According to Inc , one of the most common reasons startups fail is a lack of cash. This where a chief financial officer (CFO) can really help you by staying on top of your finances, knowing what you need to succeed as well as when it's time to raise some more funds. Let's look at eight reasons why you need a CFO for your startup. The definition of a Chief Financial Officer Some businesses will choose to hire a CFO on staff, while others will decide to outsource this position. Either way, a CFO w...

Outsourcing is the secret weapon for startups. It's part of an effective business model, and one that can help you succeed. While there are several areas in which you might find outsourcing beneficial, let's look at outsourcing HR as this is one area where it's definitely a good idea. You already know that growing your startup is an exciting time as well as one that leaves you wearing many hats. The good news is that with outsourcing, you don't have to do everything. When you outsource your HR, ...

Hiring staff to take care of your IT, human resources, and accounting may not be feasible for your startup. This is why it's very beneficial for startups to hire a business service company. If you're currently in the market for an outsourced team, take a look at this checklist for finding a business services company which will work well for your needs. Know your need Before finding the right fit, you first need to know what your needs are. Make a list of the tasks you need help with. Create a pr...

Have you ever asked yourself what it costs to hire an employee who doesn't turn out to be right for your business? The U.S. Department of Labor says it costs you at least 30% of your employee's first-year earnings if they're a bad hire. For many startups, losing five figures because you hired the wrong person may mean the difference between success and failure. Let's take a look at the costs of a bad hire, so you can avoid the devastating consequences to your startup. Initial hiring costs...

As the owner of a startup, your time is at a premium. You know that everything takes a lot of time, and when you're rushing from one task to another, some things might fall through the cracks. This is where outsourcing comes in. While you spend quality time building your business, you let others do the support work. We run into many young startups who don't think they are large enough or established enough to outsource. In this article, we'll take a look at why you are big enough to outsource ev...

Hiring new team members for your startup is a lot like marketing your company, but many businesses don't approach it this way. If you want to hire the absolute best candidates, you want to make sure your job posts are attracting the right job seekers by providing them extra information to help them decide whether or not to submit a resume. This involves using your marketing skills to craft your job postings. Here are a few ways startups can attract better talent by improving their job postings. ...

Generating leads can be difficult for new and seasoned startups alike. This is where content marketing comes in. Let's take a look at a few lead generation tips for startups and how you can use your content to build trust with potential buyers. Content marketing According to one report, nearly 90% of marketers are using this tool in their marketing strategy. What exactly is content marketing? It's when you create and distribute content consistently that users find valuable, relevant, educational...

Two of the most important things you can do for your business are to build relationships with your customers and engender their loyalty. One of the best ways to do this is through online communities. You want to encourage your customers to feel like they're a part of something special. This in turn encourages their loyalty. Here are a few reasons why you should consider building an online community around your brand and some suggestions for making this happen. Communities increase retention rate...

As the owner of a startup, you are probably trying to do a lot with a little, and that may mean you're doing your own accounting. While you may try to handle your accounting on your own, it's usually not the best idea, especially if you're working with investors and managing payroll. If you make a mistake in your accounting, you can end up with a huge mess on your hands. Therefore, we have compiled a list of common accounting mistakes your company may be making for you to review. If you find tha...

​ Preparing for the sale of a company can be a long-term process and one that can zap the energy of even the most energetic CEO. We've put together a shortlist of four things founders/management teams need to consider before selling a company. #1: Keep moving forward As you enter the sales phase, you might be tempted to scale back your day-to-day operations. This isn't a good idea. You want to keep your business running as usual, just as if a sale isn't right around the corner. This guarantees y...

Thinking about adding interns to your startup staff? Oftentimes, this is a great idea. Interns can bring fresh, new ideas and a unique perspective to your startup. They are usually inexpensive, and very often they're young and flexible. You'll find they're willing to learn many different aspects of your business and pitch in where they're most needed. As an added bonus, if they really work out, you can add them to your staff permanently. Yet, there are some important guidelines to follow when do...

According to a study , corporations are quite eager to work with startups, with nearly 67% saying they are happy to work with early stage startups and another 23% seeing partnerships as critical. This study is quite significant as the trend towards startup/corporation partnerships is looking good. This is where you might be asking how startups can form partnerships with larger companies and how this makes good business sense. Partnering with an established company helps you gain stability, but i...

According to Marketing Schools , influencer marketing is when you market your products and services to people who have sway or influence over the things other people buy. With influencer marketing, the focus is placed on influential people instead of the target market. When you employ this strategy, it's your goal to identify the people who have influence over buyers and then organize your marketing strategy around them. So, does this mean that influencers are only famous people? No, not necessa...

Whether you're in a meeting, or you meet a potential investor at a dinner party, you'll be better off if you have a prepared elevator speech for your startup. This helps you say what you really need to say without having to think about it or even worse, leaving something out. Let's look at how to craft an elevator speech for investors . What is an Elevator Speech? Sometimes called an elevator pitch, this speech is a short overview of your business, products, and services. You may use it in busin...

Every brand needs a voice, especially startups. The messaging you provide your audience is what helps your target audience understand your value and why you're useful. Your messaging tells the potential customer why they should do business with you. Your brand's promise must be clear, it must tell a story, and it must be convincing. Brand messaging for your startup should convey your value proposition and help your customers relate to your products or services. Your brand messaging should inspir...

Before we start to answer this question, you might be wondering about the term, native advertising. Just what does this mean? Native advertising is a form of paid media where the ad experience follows the natural form and function of the user experience in which it is placed. In other words, the ad looks just like the content around it. So, if you use native advertising on your website or someone else's, it wouldn't look like an ad. Native advertising is the new buzzword, and in this article, we...

Before we dive in to the pros and cons of investing in SEO, let's firmly define it. SEO is an abbreviation for search engine optimization. While the term, SEO, can leave many startups confused, it's simply how you get free and organic traffic to your website . Breaking it down even further, consider this example. Your potential customer goes to Google and enters a term in the search bar that has something to do with your business. If you show up on the search engine results page near the top or ...

For most startups, their marketing strategy includes only online activities such as lead generation, social media, email marketing, content marketing , pay-per-click, and their website. While this is all vital to your overall marketing plan, there are other avenues available to you depending on your target market. In this article, we look at traditional marketing tools often overlooked by startups that include strategies and methods for introducing your business to the world. Direct mail ...

It's product launch time for your startup, and it's time to do some marketing. With so many options and avenues available to you, we take a look at one traditional form of marketing – the trade show. The Pros You'll find that the biggest advantage of the trade show is the increased exposure for your startup. This is your chance to get noticed. Trade shows are a great place to increase your brand awareness and get your product in front of more eyeballs. Consider participating in a class, hosting ...

Is user generated content the latest fad, or is it a viable way for you to grow your business? First, let's define it. User generated content (UGC) is any content that unpaid contributors, your customers or fans share online. This might be in the format of reviews, social media posts, videos, blog posts, tweets, pictures and more. It's a big boon for your startup, not the latest fad, and it's something you should definitely be encouraging your customers to do. To help you, let's look at h...

Managing your money right from the start is vital to the health of your startup. When hiring an accountant, outsourcing your accounting, or hiring an employee to manage your books, you want to be absolutely confident in who you choose as they are responsible for managing your money. Your accountant helps you navigate the numbers and make the best financial decisions. If the numbers aren't accurate, it can be hard to grow and succeed as a small business. Let's look at what you should know ...

Payroll is much more than just paying your employees their salary or hours worked. When it comes to payroll , it encompasses not only wages but deductions such as taxes and social security as well as health insurance and more. Payroll can be difficult for some startups, so today we look at eight common payroll problems to avoid. #1: Setting it up incorrectly Payroll is complicated, especially where taxes are concerned. Not only are taxes a vital part of payroll, but they are difficult to ...

Is productivity rising or falling in our culture as a whole? It turns out it depends on who you ask. What we can say for certain is that in our digital age and with distractions at every turn, it can be hard to stay on task. We've look at productivity hacks in a previous post, and in this article, we're going to look at specific tools to help you be a more productive leader. If you're looking for productivity tools for busy CEOs, look no further than these apps, start using them and find ...

As a startup, you'll find video content is a powerful part of your marketing strategy, allowing you to project your brand to more people than ever before. Let's look at three ways startups can add video content into their marketing strategies. #1: Know your purpose The first thing you want to uncover when creating a video content strategy is your purpose and your audience. Before diving into your plan, make a list of what separates your brand from the competition. What sets you apart and ...

​ How to plan a successful product launch You're getting your new product ready for launch. Not only is your staff excited, but you can't wait to show your new product to the world. Yet, for many startups, all the work goes into creating and developing the product and not in the launch. To help you get ready, let's look at how to plan a successful product launch so your new product takes off with momentum and fanfare. Pre-Launch to Influencers Your first step is to take your product to the influ...

Social media is pervasive in our digital world. It's enhanced the way businesses can connect with their current and target customers. What's more, businesses now have an easy platform where they can educate, entertain, and build relationships with their customers. Yet, with the plethora of social media platforms available today, it can be a conundrum for startups to decide where to invest their efforts. In this article, we ask the question, "Should your company invest resources in Twitter...

​ With the unemployment rate at its lowest point in years, it's never been more important to keep hold of your best employees. Attracting and retaining the top talent is vital for your business, and in today's tight job market, employee retention means more than offering a good salary and benefits. In this article, we look at six ways companies can retain top talent. #1: Offer flexibility A strong work-life balance is incredibly important to the Millennial workforce, and that has trickled down t...

​ Whether you're creating a logo for the first time or redesigning an existing logo, there are some necessary steps to take. Your logo has a huge impact on your business – it literally defines you and tells your audience who you are. While some companies get it right the first time, others struggle through redesign after redesign. Let's take a look at things to consider when designing or redesigning a logo for your brand . First, let's take a look at some of the things to consider when designing...

More than 60% of the Millennial workforce strives for a work-life balance, and that has trickled down to the rest of the workforce. Yet, only 5% of employees consider themselves thriving with their work-life balance. Why should you care about this work-life balance? Because, employees with a healthy work-life balance are more productive, happier employees. To help you create a more positive culture and a more satisfying workplace, let's look at how companies can encourage a work-life balance for...

​ Are you one of the many companies that needs a real, tangible reason to hire human resources staff? If you need proof you need HR, here it is. We're going to look at period-underwear company, Thinx , and how their lack of proper human resources negatively impacted their business. Thinx: A Case Study Period-underwear company, Thinx, started with one woman's brainchild to provide women with an alternative to traditional menstrual products. Their highly absorbent, washable underwear replaces main...